🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

European shares retreat as rising bond yields weigh

Published 03/12/2021, 04:26 PM
Updated 03/12/2021, 04:30 PM
© Reuters.
MBGn
-
RENA
-
BRBY
-
US10YT=X
-
STOXX
-
0700
-
SX8P
-
PRX
-

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 12 (Reuters) - Rising bond yields dragged European
stocks lower on Friday, but major bourses were set for strong
weekly gains as stimulus and vaccination programmes spurred
hopes of a solid economic recovery.
The pan-European STOXX 600 .STOXX fell 0.4% in early
trading, after a four-session winning streak drove the index to
pre-pandemic highs a day earlier.
With the 10-year U.S. Treasury yield US10YT=RR back above
1.6%, investors booked some profits, especially in the tech
sector .SX8P , which was down 1.4%.
Dutch company Prosus PRX.AS , which holds a third of
Chinese tech giant Tencent Holdings 0700.HK , dropped 4.8% as
the Chinese market regulator fined 12 companies including
Tencent related to deals that demonstrated illegal monopolistic
behaviours. German carmaker Daimler DAIGn.DE slipped 2.0% after French
rival Renault RENA.PA sold its entire stake in the company at
a discount. British luxury group Burberry BRBY.L jumped 7.2% to the
top of STOXX 600 after saying it had seen a strong rebound in
sales since December.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.